Cypress Bails on New Fund

The Cypress Group has abandoned plans to raise a new fund, according to LBO Wire. The New York-based buyout firm raised $2.5 million for its second fund in 1999, but has since experienced significant personnel turnover. That fund is long out of dry powder, but Cypress has made new deals thanks to a partnership with Goldman Sachs Capital Partners. http://www.cypressgp.com/